Pub Date : 2023-05-29DOI: 10.1080/13563467.2023.2215703
Tomáš Hoření Samec, Lucie Trlifajová
ABSTRACT Personal debt is a device increasing one’s agency but embedded within moral and legal frameworks that constructs people as individualised financial subjects. This article aims to enrich research on the state role in (subject) financialisation through a focus on personal debt governance modes as constructed in policymaker discourse on the state role in personal debt regulation. Our argument is contextualised in the Czech Republic, where, in 2021, 10 per cent of the adult population faced legal debt enforcement, significantly disrupting their economic situation. Through an analysis of 84 parliamentary debate transcripts and 32 regulatory impact assessment documents related to consumer credit and debt relief laws, we illustrate the ambivalence and complexity of debt governance and state roles. Although two main state roles were enacted – punitive and protective – the policymaker discourse forms a continuum of sorts, blending various moral logics, ascribing multiple responsibilities (individual, state and private actors) and intensively negotiating the category of debtor deservingness. We argue that by accenting financial education as a tool to solve perceived market failures (predatory lending), the financialised logic and structures are reaffirmed, albeit leaving certain discursive spaces for renegotiation and potential resistance against such state functions.
{"title":"Protect or punish debtors? Policymaker discourse on the state’s role in personal debt governance","authors":"Tomáš Hoření Samec, Lucie Trlifajová","doi":"10.1080/13563467.2023.2215703","DOIUrl":"https://doi.org/10.1080/13563467.2023.2215703","url":null,"abstract":"ABSTRACT Personal debt is a device increasing one’s agency but embedded within moral and legal frameworks that constructs people as individualised financial subjects. This article aims to enrich research on the state role in (subject) financialisation through a focus on personal debt governance modes as constructed in policymaker discourse on the state role in personal debt regulation. Our argument is contextualised in the Czech Republic, where, in 2021, 10 per cent of the adult population faced legal debt enforcement, significantly disrupting their economic situation. Through an analysis of 84 parliamentary debate transcripts and 32 regulatory impact assessment documents related to consumer credit and debt relief laws, we illustrate the ambivalence and complexity of debt governance and state roles. Although two main state roles were enacted – punitive and protective – the policymaker discourse forms a continuum of sorts, blending various moral logics, ascribing multiple responsibilities (individual, state and private actors) and intensively negotiating the category of debtor deservingness. We argue that by accenting financial education as a tool to solve perceived market failures (predatory lending), the financialised logic and structures are reaffirmed, albeit leaving certain discursive spaces for renegotiation and potential resistance against such state functions.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"958 - 970"},"PeriodicalIF":4.2,"publicationDate":"2023-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44954925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-26DOI: 10.1080/13563467.2023.2215701
B. Amable, S. Palombarini
ABSTRACT This paper proposes a political economy of social conflict, institutional change and crises based on the diversity of perceived interests among social groups. The multidimensional conflict includes ideology, institutions, and politics. Social groups may be in a dominant or dominated position in one or the other dimension, and the nature of social conflict reflects the differences in positions of the various social groups in these dimensions. Political stability hinges on the existence of a dominant social bloc, i.e. a social alliance supporting the ruling political actors. The implementation of institutional change by political actors is driven by the search for support. Crisis situations correspond to the rupture of the dominant social bloc. Attempts to emerge from the crisis with the reconstitution of a dominant social bloc will have more or less chance of success depending on the possibility of finding a political strategy that can make the expectations of social groups with different perceived interests compatible. Using examples from the French and Italian economic and political situations in recent decades, we show how the proposed analytical framework can inform the study of institutional change in situations of social crisis.
{"title":"Multidimensional social conflict and institutional change","authors":"B. Amable, S. Palombarini","doi":"10.1080/13563467.2023.2215701","DOIUrl":"https://doi.org/10.1080/13563467.2023.2215701","url":null,"abstract":"ABSTRACT This paper proposes a political economy of social conflict, institutional change and crises based on the diversity of perceived interests among social groups. The multidimensional conflict includes ideology, institutions, and politics. Social groups may be in a dominant or dominated position in one or the other dimension, and the nature of social conflict reflects the differences in positions of the various social groups in these dimensions. Political stability hinges on the existence of a dominant social bloc, i.e. a social alliance supporting the ruling political actors. The implementation of institutional change by political actors is driven by the search for support. Crisis situations correspond to the rupture of the dominant social bloc. Attempts to emerge from the crisis with the reconstitution of a dominant social bloc will have more or less chance of success depending on the possibility of finding a political strategy that can make the expectations of social groups with different perceived interests compatible. Using examples from the French and Italian economic and political situations in recent decades, we show how the proposed analytical framework can inform the study of institutional change in situations of social crisis.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"942 - 957"},"PeriodicalIF":4.2,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44610441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-22DOI: 10.1080/13563467.2023.2215746
Rowan Alcock
ABSTRACT This article clarifies the use of Polanyian theory to interrogate rural China’s historical trajectory. It critiques the use of Polanyi’s double movement concept to analyse state-socialist periods arguing that because the double movement concept was explicitly created to interrogate capitalist systems, in which land and labour were marketized, it cannot be transposed onto state-socialist periods. This article further argues that as the double movement necessarily entails the possibility of transcending a capitalist system to socialism, the double movement’s explanatory power is further undermined when used within a state-socialist context. This includes the context of Maoist China which this article explores. This article suggests using the vocabulary Polanyi employs when discussing Soviet Russia to interrogate the Maoist period. However, it supports the use of Polanyi’s double movement concept to interrogate post-1984 China as this period demonstrates increasing market penetration of society. The article further argues that when using the double movement to interrogate any system with significant market penetration scholars ought recognise the double movement’s dialectical process. This dialectical reading suggests the double movement is destructive to society and its internal contradiction creates progressive and regressive possibilities. This article explores the Chinese New Rural Reconstruction Movement as a potential progressive possibility.
{"title":"Polanyi in rural China: beyond the double movement","authors":"Rowan Alcock","doi":"10.1080/13563467.2023.2215746","DOIUrl":"https://doi.org/10.1080/13563467.2023.2215746","url":null,"abstract":"ABSTRACT This article clarifies the use of Polanyian theory to interrogate rural China’s historical trajectory. It critiques the use of Polanyi’s double movement concept to analyse state-socialist periods arguing that because the double movement concept was explicitly created to interrogate capitalist systems, in which land and labour were marketized, it cannot be transposed onto state-socialist periods. This article further argues that as the double movement necessarily entails the possibility of transcending a capitalist system to socialism, the double movement’s explanatory power is further undermined when used within a state-socialist context. This includes the context of Maoist China which this article explores. This article suggests using the vocabulary Polanyi employs when discussing Soviet Russia to interrogate the Maoist period. However, it supports the use of Polanyi’s double movement concept to interrogate post-1984 China as this period demonstrates increasing market penetration of society. The article further argues that when using the double movement to interrogate any system with significant market penetration scholars ought recognise the double movement’s dialectical process. This dialectical reading suggests the double movement is destructive to society and its internal contradiction creates progressive and regressive possibilities. This article explores the Chinese New Rural Reconstruction Movement as a potential progressive possibility.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"986 - 1000"},"PeriodicalIF":4.2,"publicationDate":"2023-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42447313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-18DOI: 10.1080/13563467.2023.2196064
Luiza Peruffo, André Moreira Cunha, Andrés Ernesto Ferrari Haines
ABSTRACT This article reflects on the meaning of China’s Central Bank Digital Currency (CDBC) with respect to money and power relations to argue that it will not represent a rupture with the dollar centric international monetary and financial system (IMFS). It combines three theoretical approaches – on the nature of money, on currency internationalisation and on currency hierarchy – to build an analytical framework that adds to the literature that strives to understand the dynamics between money and state power. This framework stresses the fundamental place of currency dominance and of an underlying currency hierarchy that explains the broader configuration and evolution of the IMFS. While there is an enormous asymmetry between the economic weight of China and the international use of its currency (physical or digital), it does not necessarily follow that this tension will be resolved by assembling a fairer distribution of the economic and political advantages that come along with issuing a currency that is used by the rest of the world (the so-called ‘exorbitant privilege’).
{"title":"China’s central bank digital currency (CBDC): an assessment of money and power relations","authors":"Luiza Peruffo, André Moreira Cunha, Andrés Ernesto Ferrari Haines","doi":"10.1080/13563467.2023.2196064","DOIUrl":"https://doi.org/10.1080/13563467.2023.2196064","url":null,"abstract":"ABSTRACT This article reflects on the meaning of China’s Central Bank Digital Currency (CDBC) with respect to money and power relations to argue that it will not represent a rupture with the dollar centric international monetary and financial system (IMFS). It combines three theoretical approaches – on the nature of money, on currency internationalisation and on currency hierarchy – to build an analytical framework that adds to the literature that strives to understand the dynamics between money and state power. This framework stresses the fundamental place of currency dominance and of an underlying currency hierarchy that explains the broader configuration and evolution of the IMFS. While there is an enormous asymmetry between the economic weight of China and the international use of its currency (physical or digital), it does not necessarily follow that this tension will be resolved by assembling a fairer distribution of the economic and political advantages that come along with issuing a currency that is used by the rest of the world (the so-called ‘exorbitant privilege’).","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"881 - 896"},"PeriodicalIF":4.2,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44840686","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-09DOI: 10.1080/13563467.2023.2206644
Konrad Sobczyk
ABSTRACT This article relates to debates about dependency of countries in the global political economy. It conceptualises dependency by drawing on the concept of ‘mechanisms of dependency’, and builds a synergy with the Comparative Capitalisms (CC) literature (i.e. institutional and third-generation perspectives). The article expands the Varieties of Capitalism (VoC) framework by applying the established category of Dependent Market Economy to Greece. Building on financialisation as a mechanism of dependency, the article argues this locked Greece into reliance on external debt, dependent position within the Eurozone, as well as vulnerable situation after reforms demanded by the creditors were implemented. However, due to internal historical-structural issues with its capitalist model, Greece was unable to minimise the negative impact of financialised dependence, and is internally weakly prepared to escape from its peripheral status in the future if external dependence will be removed. The article argues that conceptual synergy between dependency theory and the CC literature is desirable in order to provide a more holistic account of interaction between external and internal factors in the context of dependent capitalist varieties.
{"title":"Understanding ‘dependency’ through the comparative capitalisms framework: conceptualisation of Greece as a dependent market economy","authors":"Konrad Sobczyk","doi":"10.1080/13563467.2023.2206644","DOIUrl":"https://doi.org/10.1080/13563467.2023.2206644","url":null,"abstract":"ABSTRACT This article relates to debates about dependency of countries in the global political economy. It conceptualises dependency by drawing on the concept of ‘mechanisms of dependency’, and builds a synergy with the Comparative Capitalisms (CC) literature (i.e. institutional and third-generation perspectives). The article expands the Varieties of Capitalism (VoC) framework by applying the established category of Dependent Market Economy to Greece. Building on financialisation as a mechanism of dependency, the article argues this locked Greece into reliance on external debt, dependent position within the Eurozone, as well as vulnerable situation after reforms demanded by the creditors were implemented. However, due to internal historical-structural issues with its capitalist model, Greece was unable to minimise the negative impact of financialised dependence, and is internally weakly prepared to escape from its peripheral status in the future if external dependence will be removed. The article argues that conceptual synergy between dependency theory and the CC literature is desirable in order to provide a more holistic account of interaction between external and internal factors in the context of dependent capitalist varieties.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"925 - 941"},"PeriodicalIF":4.2,"publicationDate":"2023-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49145203","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-15DOI: 10.1080/13563467.2023.2195159
A. Settle
ABSTRACT Drawing on the literature on political alienation and insider/outsider theory, this paper offers a novel explanation for the failure of some households to embrace the opportunities for financial control offered by the pension system. The analysis uses data from a financial diaries study to construct objective and subjective measures of attitudes, engagement and distributional outcomes for individual households in the Australian pension system. By showing that households that are systematically disadvantaged in the pension system not only are much more likely to be disengaged but have much stronger convictions about unfairness in the system, the findings link disengagement to alienation. The analysis thus proposes that some households reject the system of individualised accounts by disengaging – like ‘outsiders’ reject the political system by abstaining from voting – because they see the system as stacked against them. Drawing on the alienation literature’s analysis of disengagement with political responsibilities of citizenship, the article thus extends the analysis of disengagement to newer financial responsibilities of citizenship.
{"title":"‘Don’t play if you can’t win’: household disengagement in the Australian pension system","authors":"A. Settle","doi":"10.1080/13563467.2023.2195159","DOIUrl":"https://doi.org/10.1080/13563467.2023.2195159","url":null,"abstract":"ABSTRACT Drawing on the literature on political alienation and insider/outsider theory, this paper offers a novel explanation for the failure of some households to embrace the opportunities for financial control offered by the pension system. The analysis uses data from a financial diaries study to construct objective and subjective measures of attitudes, engagement and distributional outcomes for individual households in the Australian pension system. By showing that households that are systematically disadvantaged in the pension system not only are much more likely to be disengaged but have much stronger convictions about unfairness in the system, the findings link disengagement to alienation. The analysis thus proposes that some households reject the system of individualised accounts by disengaging – like ‘outsiders’ reject the political system by abstaining from voting – because they see the system as stacked against them. Drawing on the alienation literature’s analysis of disengagement with political responsibilities of citizenship, the article thus extends the analysis of disengagement to newer financial responsibilities of citizenship.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"849 - 864"},"PeriodicalIF":4.2,"publicationDate":"2023-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45372089","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-13DOI: 10.1080/13563467.2023.2200243
Brian Judge
ABSTRACT Over the course of the 1970s, inflation became a monetary phenomenon. At the beginning of the decade, price increases were attributed to a complex intersection of domestic and international forces. By the end of the decade, inflation was widely seen as a consequence of misguided government policy. What began as a partisan battle cry became a social scientific premise: the history of inflation in the 1970s in the United States is told by the political victors. This article recovers a set of facts buried beneath decades of ideological sedimentation. Through a decomposition of the statistical index of inflation, this article demonstrates that price increases in the 1970s were driven by a confluence of contingent events propagating through politically constructed markets. Sharp increases in the prices of tradeable global commodities combined with unprecedented interest rate hikes to send the Consumer Price Index to new highs. Through these component histories, the article demonstrates how the aggregate phenomenon of ‘inflation’ and its subsequent remission after 1982 marked the confluence of otherwise unrelated disruptions rather than ‘too much money chasing too few goods’ decisively upended by the Volcker shock.
{"title":"Piercing the veil of monetarism: a decomposition of American inflation, 1970–1985","authors":"Brian Judge","doi":"10.1080/13563467.2023.2200243","DOIUrl":"https://doi.org/10.1080/13563467.2023.2200243","url":null,"abstract":"ABSTRACT Over the course of the 1970s, inflation became a monetary phenomenon. At the beginning of the decade, price increases were attributed to a complex intersection of domestic and international forces. By the end of the decade, inflation was widely seen as a consequence of misguided government policy. What began as a partisan battle cry became a social scientific premise: the history of inflation in the 1970s in the United States is told by the political victors. This article recovers a set of facts buried beneath decades of ideological sedimentation. Through a decomposition of the statistical index of inflation, this article demonstrates that price increases in the 1970s were driven by a confluence of contingent events propagating through politically constructed markets. Sharp increases in the prices of tradeable global commodities combined with unprecedented interest rate hikes to send the Consumer Price Index to new highs. Through these component histories, the article demonstrates how the aggregate phenomenon of ‘inflation’ and its subsequent remission after 1982 marked the confluence of otherwise unrelated disruptions rather than ‘too much money chasing too few goods’ decisively upended by the Volcker shock.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"910 - 924"},"PeriodicalIF":4.2,"publicationDate":"2023-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43862516","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-13DOI: 10.1080/13563467.2023.2196063
A. Maron, James W. Williams
ABSTRACT Within the financialisation literature, scholars have turned their attention to the state, exploring the adoption of financial activities by state actors, paying less attention to the limits of state financialisation. This paper explores these limits using the case of social impact bonds (SIBs). Pioneered in the UK in 2010 and subsequently trialed in some 35 countries, SIBs use private capital to fund social programs, with governments providing a return based on the degree of success. Despite expectations of dramatic growth, the SIB model has never truly taken hold. Based on the rollout of SIBs in the UK, Israel, and Canada, the paper considers the challenges encountered by the SIB enterprise as a form of financialised statecraft and identifies three barriers: (1) resistance to political agendas of state financialisation; (2) clashes between finance and public sector cultures; (3) financial innovation seen as ‘risk’ and ‘disruption’ to entrenched socio-technical routines. These barriers reveal tensions both within the state itself and between finance and the public sector, and indicate the importance of thinking about the limits and failures of state financialisation.
{"title":"Limits to the financialisation of the state: exploring obstructions to social impact bonds as a form of financialised statecraft in the UK, Israel, and Canada","authors":"A. Maron, James W. Williams","doi":"10.1080/13563467.2023.2196063","DOIUrl":"https://doi.org/10.1080/13563467.2023.2196063","url":null,"abstract":"ABSTRACT Within the financialisation literature, scholars have turned their attention to the state, exploring the adoption of financial activities by state actors, paying less attention to the limits of state financialisation. This paper explores these limits using the case of social impact bonds (SIBs). Pioneered in the UK in 2010 and subsequently trialed in some 35 countries, SIBs use private capital to fund social programs, with governments providing a return based on the degree of success. Despite expectations of dramatic growth, the SIB model has never truly taken hold. Based on the rollout of SIBs in the UK, Israel, and Canada, the paper considers the challenges encountered by the SIB enterprise as a form of financialised statecraft and identifies three barriers: (1) resistance to political agendas of state financialisation; (2) clashes between finance and public sector cultures; (3) financial innovation seen as ‘risk’ and ‘disruption’ to entrenched socio-technical routines. These barriers reveal tensions both within the state itself and between finance and the public sector, and indicate the importance of thinking about the limits and failures of state financialisation.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"865 - 880"},"PeriodicalIF":4.2,"publicationDate":"2023-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42304353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-13DOI: 10.1080/13563467.2023.2200242
S. Predmore
ABSTRACT In the decade-plus following the financial crisis of 2008, diversity and inclusion initiatives – especially those targeting gender – have proliferated in global financial centres. Feminist political economists critique the ways that struggles for gender and racial equality can become co-opted via inclusion endeavours, and how they may primarily serve to legitimate existing institutional practices. At the same time, diversity and inclusion initiatives open up counterspace for emerging professionals to draw from experiences of marginalisation, formulate critiques, and push back against processes that generate inequalities. In this study, I draw from field-based and interview research on gender diversity programmes in finance to analyse how dynamics of co-optation and critique play out as recent initiates into the industry navigate diversity offerings. I refer to De Jong and Kimm’s (2017) research agenda on co-optation as conceptual reference, demonstrating how mechanisms, effects, and actor’s perceptions of co-optation play out together in this particular institutional matrix. The fault lines that emerge around institutional practices of diversity indicate where a hegemonic incorporation that would serve the financial establishment is incomplete and contestations over the inclusivity of professions, markets and financialised societies remain.
{"title":"Inclusion or co-optation? Navigating recruitment as a gender diversity candidate in finance","authors":"S. Predmore","doi":"10.1080/13563467.2023.2200242","DOIUrl":"https://doi.org/10.1080/13563467.2023.2200242","url":null,"abstract":"ABSTRACT In the decade-plus following the financial crisis of 2008, diversity and inclusion initiatives – especially those targeting gender – have proliferated in global financial centres. Feminist political economists critique the ways that struggles for gender and racial equality can become co-opted via inclusion endeavours, and how they may primarily serve to legitimate existing institutional practices. At the same time, diversity and inclusion initiatives open up counterspace for emerging professionals to draw from experiences of marginalisation, formulate critiques, and push back against processes that generate inequalities. In this study, I draw from field-based and interview research on gender diversity programmes in finance to analyse how dynamics of co-optation and critique play out as recent initiates into the industry navigate diversity offerings. I refer to De Jong and Kimm’s (2017) research agenda on co-optation as conceptual reference, demonstrating how mechanisms, effects, and actor’s perceptions of co-optation play out together in this particular institutional matrix. The fault lines that emerge around institutional practices of diversity indicate where a hegemonic incorporation that would serve the financial establishment is incomplete and contestations over the inclusivity of professions, markets and financialised societies remain.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"897 - 909"},"PeriodicalIF":4.2,"publicationDate":"2023-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45826734","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-28DOI: 10.1080/13563467.2023.2184468
M. Babić, Sarah E. Sharma
ABSTRACT Globally accelerating environmental breakdown necessitates a large-scale mobilisation not only of the natural and engineering sciences, but also of insights generated from social sciences. Consequently, recent interventions in International/Global Political Economy (IPE) demand a gearing of the field towards putting climate breakdown centre stage. We respond to this call by drawing attention to the role critical IPE approaches can offer to the field to engage with climate breakdown more comprehensively and consistently. We argue that critical IPE can do so by combining problem-driven and praxis-oriented emancipatory perspectives, leading to systematic and concrete research programmes that are indispensable in the age of climate breakdown. We support our argument by documenting and systematising this potential across three core IPE themes:economic growth, state theory and global finance. In order to unlock its full potential for centring climate breakdown, we argue that critical IPE should better embrace multidisciplinarity and intersectional approaches, and produce more empirical work and methodological advances in future research.
{"title":"Mobilising critical international political economy for the age of climate breakdown","authors":"M. Babić, Sarah E. Sharma","doi":"10.1080/13563467.2023.2184468","DOIUrl":"https://doi.org/10.1080/13563467.2023.2184468","url":null,"abstract":"ABSTRACT Globally accelerating environmental breakdown necessitates a large-scale mobilisation not only of the natural and engineering sciences, but also of insights generated from social sciences. Consequently, recent interventions in International/Global Political Economy (IPE) demand a gearing of the field towards putting climate breakdown centre stage. We respond to this call by drawing attention to the role critical IPE approaches can offer to the field to engage with climate breakdown more comprehensively and consistently. We argue that critical IPE can do so by combining problem-driven and praxis-oriented emancipatory perspectives, leading to systematic and concrete research programmes that are indispensable in the age of climate breakdown. We support our argument by documenting and systematising this potential across three core IPE themes:economic growth, state theory and global finance. In order to unlock its full potential for centring climate breakdown, we argue that critical IPE should better embrace multidisciplinarity and intersectional approaches, and produce more empirical work and methodological advances in future research.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"758 - 779"},"PeriodicalIF":4.2,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44932652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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